An e-ticket is database entry information that would have been printed on a paper ticket decentralized, stored and accessed from a massive database. Through the use of smart contracts associated with the e-ticket, airlines can add terms and conditions around how the ticket is sold and ultimately used.
Currently, airline tickets are either paper-based or electronic passes. With the implementation of the First Genesis BcPaaS™, the need for using paper tickets can be fully eliminated and the e-tickets can be validated through smart contracts. Validated tickets can essentially have their own set of business logic and terms in real time efficiently and securely.
The First Genesis BcPaaS™ architecture is capable of producing more than:
60,000 proofs per minute / 3,600,000 proofs per hour / 86,400,000 proofs per day
Without requiring the use of GPU farms or large clusters of Virtual Machines
or third-party proofing services!